Flax. Know it, love it.

Some very useful information about how to use flaxseed can be found at http://www.flaxseedshop.com/content/Flax-Seed-Recipes.asp.

An excerpt:

Storage
Whole flax seed which is clean dry and of good quality, can be stored at room temperature for up to a year. For optimum freshness, ground flax seed should be ground as needed. Unused ground flaxseed can be refrigerated in an airtight container if it will be used in just a matter of days, or it can be stored in the freezer for about a month.

Substitutions for recipes
For Fat - Substitute flax for fat in your recipes, using 3 tablespoons ground flaxseed for 1 tablespoon of margarine, butter or cooking oil. Flax can be substituted for all or some of the fat, depending on the recipe. Note that baking with flax, as fat substitute will cause baked goods to brown more quickly.

For Eggs - Substitute a ground flax seed/water mixture for eggs in recipes such as pancakes, muffins, and cookies. Use 1 tablespoons ground flax plus 3 tablespoons of water ?left sitting for several minutes ?for each egg. Note that this will result in a chewier version of the recipe, with less volume.